Ukraine Crisis: Magyar Suzuki suspends exports to Russia, Ukraine

Ukraine Crisis

As of March, Magyar Suzuki has suspended car exports to Russia and Ukraine due to the war, the company's head of communications Zsuzsanna Bonnár-Csonka told news agency Reuters.

Suzuki said it exports about 10,000 cars to Russia and Ukraine per year and added that it was trying to shift the affected orders to other markets to maintain its planned production volumes.

Magyar Suzuki sold 119,098 cars in 2020 based on the latest available figures on its website, including 101,672 vehicles in foreign markets, meaning Russia and Ukraine account for roughly a tenth of its annual exports.

"Our company has no direct Tier 1 suppliers in the areas affected," Bonnár-Csonka said, referring to Russia and Ukraine.

"However, we are continuously monitoring the entire supply chain," she added.

She also noted that the global chip shortage still represented the biggest hurdle.

Bonnár-Csonka said that rising energy costs and the weakening of the forint had an additional impact on its operations.

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